This detailed manual describes, in detail, the methodology and decision-points for conducting a variable cost/revenue-based fiscal impact analysis. This approach supplants the methodologically flawed average cost/revenue approach to fiscal impact analysis that has been the standard practice for decades. Asking the right question is the first step to arriving at the correct answer. For too long, fiscal impact analysts have been asking the wrong question. In Fiscal Impact Analysis: A New Approach, Ted Figura presents a fiscal impact methodology that answers the question: how will a municipality's budgetary costs and revenues change due to the construction of this specific development? To do this, Figura utilizes a variable cost/revenue approach tailored to the unique parameters of a proposed development. Because this methodology is nuanced, many points need to be considered and many decisions must be made by the analyst. This work examines the many issues confronted by the fiscal impact analyst and provides detailed descriptions of methodologies to be employed, including formulas. Fiscal Impact Analysis: A New Approach will transform the landscape of the field and is a must read for the serious student or practitioner of the trade.